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Galilee Energy Limited (ASX:GLL)

ALERT: Price-sensitive ASX Announcement for GLL
Current share price for GLL : $0.006 0 (0%)+
Announcement
Release
16 Jun 2026 8:15AM
Price at Release
$0.006
Full Release
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Summary
Galilee Energy Limited is preparing to launch its Zydeco-1 drilling campaign as the first step in its strategy to develop a scalable oil and gas business in the US Gulf Coast, with the well set to commence in early July 2026. The Zydeco project is designed as a low-cost, drill-ready gas project, aiming for production within six months and leveraging existing infrastructure to ensure a rapid transition from drilling to cash flow. This initiative aligns with a proven Gulf Coast development model and is supported by a strategic US advisory board. An upcoming investor webinar on 18 June 2026 will provide further details and discuss corporate milestones and future plans.
Key Points
  • Galilee Energy Limited is focusing on developing the Zydeco-1 gas project in Louisiana, USA.
  • The Zydeco-1 well is scheduled to spud in the first week of July 2026.
  • Zydeco project aims for a fast, low-cost production start within approximately six months.
  • The project is supported by existing infrastructure and aligns with a proven Gulf Coast development model.
  • Galilee Energy has appointed a US advisory board to assist in executing its US expansion strategy.
  • An investor webinar is scheduled for 18 June 2026 to discuss the Zydeco-1 project and corporate milestones.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.